Fuel producers don't need incentives

March 9, 2008|Leonard Oster, Boynton Beach

For the second time, the House of Representatives has passed an energy bill that provides tax credits to companies producing renewable fuels. This bill provides for credits in the amount of $17 billion and that this same amount of money shall be removed from tax credits given to oil and gas producers. This would make the bill tax neutral.

The first time around, the Senate, with the aid of the White House, defeated this bill because they objected to the reduction of credits to the fossil fuel producers. Considering the inordinate profits being made by this industry, it is hard to understand why they need any government incentives. I would hope the news media would publish the names of the senators and how they vote on this bill.